Compared to the previous month, the net supply of foreign currency from individuals decreased by 68.8 million euros (-24.0%). The demand from economic agents fell even more: net demand decreased by 106.9 million euros (-30.6%).
Thus, the negative degree of coverage of the net demand for foreign exchange from economic agents by the net supply from individuals continued to persist. In November, it amounted to 89.9%, compared to 82.1 in October. Under these circumstances, the NBM intervened on the local interbank market through net purchases in the amount of 15 million euros.
One of the reasons for this situation is the decrease in foreign currency receipts from abroad in favor of individuals (-10%). Moreover, in November, receipts in general, in euros (by 9%) and in dollars (by 15%) decreased.
In total, in 11 months, the equivalent of $1.489 billion was received by individuals, including in euros – 1.220 billion (in dollar equivalent) and $269 million. Since the beginning of the year, the volume of remittances almost remained at the level of 2024 (growth of 0.9%). By structure – remittances in euros increased by 2.2%, and in dollars decreased by 4.5%.
This could not but affect the turnover of the domestic cash currency market. In November, foreign currency was sold for a total of $279.4 million against $344.6 million in October ($422.5 million in July). In terms of structure, sales of all “popular” currencies decreased. If in general sales decreased by 9%, then in Euro – by 10%, in dollars – by 7%, in Romanian lei – by 13.7%. Sales of the Russian ruble decreased by 6.7% and of the Ukrainian hryvnia by 25%.
At the same time, the purchase of foreign currency by the population decreased even more in November (by 12%). Since the beginning of the year, the population bought $991 million in foreign currency and sold it for $3.598 billion.
